Answer:
directors are the trustees of the company's money and property, and also act as agents in the transaction which they enter into on behalf of the company. Directors are liable as trustees for breach of trust, if they misapplied the funds or committed breach of byelaws of the company.
An auditor is an authorised personnel that reviews and verifies the accuracy of financial records and ensures that companies comply with tax norms. They primarily objective is to protect businesses from fraud, highlight any discrepancies in accounting methods, among other things.
Answer:
Study objects, conduct tests, research written materials, and ask questions
Answer:
opportunity cost
Explanation:
The concept of Opportunity cost deals with the idea that individuals, investors, or business owners, due to scarcity of resources, lost possible benefits that could be gained, as he or she chooses alternative choice.
Hence, the underlying reason or factor trade benefits both sides of a trading arrangement is rooted in the concept of OPPORTUNITY COST.
Therefore, the right answer is Opportunity cost.
Answer:
<u>c. Credence attributes</u>
Explanation:
- Credence is a good that has attributes that cannot be observed by the consumer even after purchasing the thus makes it difficult for them to access its utility such as expert services and medical procedures, automobile repairs, etc.
- Here the seller has the option to change the quality ad quantity of the price by using his tactics and hence can cheat buyers with an inferior good. Like the automobile repair may be insufficient.
